Imaging software maker Ulead Systems said net income for last year was NT$453 million, or 89 percent of its target of NT$510 million for 1999. Earnings per share was NT$2.87.
In addition, the company said it intended to raise its capitalization from NT$379.8 million to NT$640.8 million.
The purpose of the increase, the company said in a prepared statement, was to expand the company's presence in overseas retail markets and strengthen its Internet-related business investments.
The proposed capital increase must be approved at Ulead's annual stockholders meeting, which will be held April 18.
For this year, Ulead expects net income to reach US$22.6 million, or 21.6 percent higher than 1999.
But with the appreciation of the New Taiwan dollar and a target of NT$780 million, the increase is expected to be just 15 percent, the company said.
Pre-tax earnings for this year are expected to reach NT$154 million, a 33 percent jump over last year.
Using the company's current shares outstanding, that works out to about NT$4 per share.
If the capitalization increase is approved, the figure is roughly NT$2.4 per share.
Ulead's share price closed at NT$190 on Friday, a fall of NT$5 for the day.
Since reaching a high of NT$257 on January 6, the stock has shed neary a fifth of its value. But that's still a steep run-up since its listing on the OTC in March, 1998.
RSS